ATO vs NJR: Correlation
Atmos Energy (ATO) and NewJersey Resources Corporation (NJR) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATO and NJR?
Across a 3-year window, the weekly returns of ATO and NJR correlate at 0.69, strong. The past 12 months show a weaker link (0.57) than the 3-year average (0.69). Stretching to 5 years gives 0.72, with an annualized covariance of 198.0 %².
By 3-year correlation, NJR places #15 of the 32 assets tracked against ATO. The trailing year gives NJR the advantage: +2.9% versus +17.8%, a 14.9-point spread.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ATO vs NJR: side by side
| ATO (Atmos Energy) | NJR (NewJersey Resources Corporation) | |
|---|---|---|
| 1-year return | +2.9% | +17.8% |
| 5-year return | +94.1% | +74.0% |
| Volatility (ann.) | 15.9% | 18.2% |
| Beta vs S&P 500 | 0.15 | 0.06 |
| Max drawdown (3Y) | -12.7% | -12.9% |
| Market cap | $28.3B | $5.5B |
| P/E (trailing) | 19.9 | 15.1 |
| Dividend yield | 2.28% | 3.49% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | ATO | NJR |
|---|---|---|
| 2022 | +9.6% | +24.9% |
| 2023 | +6.2% | -6.9% |
| 2024 | +23.4% | +8.7% |
| 2025 | +23.1% | +2.9% |
| 2026 | +1.5% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATO and NJR good diversifiers for each other?
Only partially. A correlation of 0.69 means ATO and NJR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ATO and NJR?
As of 2026-08-27, the correlation of weekly returns between ATO and NJR is 0.69 over 3 years, 0.57 over 1 year and 0.72 over 5 years.
Is NJR a good diversifier for ATO?
Only partially. A correlation of 0.69 means ATO and NJR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ato-vs-njr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ato-vs-njr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATO correlations · NJR correlations
